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Sep 30, 2024
Smartfinancial Q3 2024 Earnings Report
SmartFinancial's financial performance improved in Q3 2024, marked by increased net income and operating earnings
Key Takeaways
SmartFinancial reported a strong third quarter in 2024, with net income reaching $9.1 million, or $0.54 per diluted common share. This represents a significant increase compared to the $2.1 million, or $0.12 per diluted common share, reported in the same quarter of the previous year. The company's operating earnings also rose to $9.1 million, or $0.54 per diluted common share, driven by net organic loan and lease growth and margin expansion.
Net income was $9.1 million, or $0.54 per diluted common share.
Operating earnings were $9.1 million, or $0.54 per diluted common share.
Net organic loan and lease growth of $144 million, representing a 16% annualized quarter-over-quarter increase.
Net tax equivalent interest margin expanded by 14 basis points to 3.11%.
Forward Guidance
SmartFinancial is confident in its ability to further enhance profitability and deliver strong tangible book value per share growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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